Bausch + Lomb (NYSE:BLCO) CFO Purchases $68,520.00 in Stock

Key Points

• CFO Sam Eldessouky purchased 4,000 shares at an average price of $17.13 on March 6 for $68,520, increasing his stake to 403,130 shares (a ~1.0% boost) valued at about $6.91 million.
• Bausch + Lomb (BLCO) traded near $17.12 with a market cap of $6.06B, a negative P/E of -16.78 and a 1‑year range of $10.45–$18.92; the company missed quarterly EPS ($0.32 vs. $0.35) despite revenue rising 9.8% year‑over‑year.
• Sentiment is mixed: analysts’ consensus is a Hold with a $18.25 target, while institutional investors like Oaktree have added positions and hedge funds own about 11.07% of the stock.

Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) CFO Sam Eldessouky purchased 4,000 shares of the company's stock in a transaction on Friday, March 6th. The shares were purchased at an average price of $17.13 per share, for a total transaction of $68,520.00. Following the purchase, the chief financial officer owned 403,130 shares in the company, valued at approximately $6,905,616.90. The trade was a 1.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Bausch + Lomb Stock Performance

NYSE BLCO traded down $0.10 on Tuesday, hitting $17.12. 201,504 shares of the company's stock traded hands, compared to its average volume of 402,941. The firm's 50-day moving average price is $17.28 and its two-hundred day moving average price is $16.17. The firm has a market capitalization of $6.06 billion, a PE ratio of -16.78, a P/E/G ratio of 0.72 and a beta of 0.58. The company has a current ratio of 1.55, a quick ratio of 1.04 and a debt-to-equity ratio of 0.77. Bausch + Lomb Corporation has a 1-year low of $10.45 and a 1-year high of $18.92.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.03). Bausch + Lomb had a positive return on equity of 2.77% and a negative net margin of 7.06%.The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company earned $0.25 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. As a group, analysts expect that Bausch + Lomb Corporation will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Bausch + Lomb

A number of large investors have recently made changes to their positions in the stock. Oaktree Capital Management LP acquired a new position in Bausch + Lomb during the second quarter worth $32,801,000. Handelsbanken Fonder AB acquired a new stake in shares of Bausch + Lomb in the 2nd quarter worth $202,000. Kazazian Asset Management LLC purchased a new position in shares of Bausch + Lomb during the 2nd quarter worth $722,000. Goldentree Asset Management LP raised its holdings in shares of Bausch + Lomb by 14.9% during the 2nd quarter. Goldentree Asset Management LP now owns 2,583,185 shares of the company's stock worth $33,524,000 after acquiring an additional 334,916 shares during the period. Finally, Fountainhead AM LLC acquired a new position in shares of Bausch + Lomb during the 2nd quarter valued at about $193,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BLCO has been the topic of a number of analyst reports. Stifel Nicolaus set a $16.00 target price on Bausch + Lomb in a research report on Thursday, February 19th. HC Wainwright lifted their target price on shares of Bausch + Lomb from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. Wall Street Zen downgraded shares of Bausch + Lomb from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Bausch + Lomb in a research note on Wednesday, January 21st. Finally, Evercore set a $18.00 price objective on Bausch + Lomb and gave the stock an "in-line" rating in a report on Monday, January 5th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.25.

Bausch + Lomb Company Profile

Bausch + Lomb Corporation operates as an eye health company in the United States, Puerto Rico, China, France, Japan, Germany, the United Kingdom, Canada, Russia, Spain, Italy, Mexico, Poland, South Korea, and internationally. It operates in three segments: Vision Care, Pharmaceuticals, and Surgical. The Vision Care segment provides contact lens that covers the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products comprising over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions, such as eye allergies, conjunctivitis, dry eye, and redness relief.

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